SHFE Spot Copper Price Movement on Aug. 10

SHANGHAI, Aug. 10 (SMM) –Spot copper offers were quoted between discounts of negative RMB 50/mt and premiums of positive RMB 20/mt today. Trade prices for standard-quality copper were between RMB 66,950-67,050/mt, and RMB 67,000-67,150/mt for high-quality copper. SHFE copper prices rebounded by more than 3%, but market players were skeptical about the rally, keeping market transactions weak. At the tail of trading, the approach of delivery dates and discounts for high-quality copper attracted some traders to enter into the market for purchases. As a result, transactions for high-quality copper improved, and offers gradually turned into discounts of negative RMB 0/mt and slight premiums.